Citadel, the hedge fund led by Ken Griffin, requires investment staff to sign noncompete agreements of up to two years, including some analysts. According to Sina Finance, the move is among the stricter practices in the multi-strategy hedge fund industry and is intended to prevent employees from joining competitors.

People familiar with the matter said one unusual aspect is that the so-called garden leave period is tied to total compensation. The more a portfolio manager or analyst earns, the longer the noncompete period. Analysts face a minimum leave period of one year.

Citadel representatives declined to comment. The firm manages about $71 billion in assets and has long been known for stricter employee contracts than many peers. In 2020, its portfolio managers had an average noncompete period of one year, although some had to remain on garden leave for as long as 18 months to receive deferred compensation. At the start of last year, the company extended some agreements to 21 months.

Griffin was also one of the main backers of a Florida bill that sought to allow garden leave of up to four years. He hired lobbyists to help draft and push the bill, which became law in July 2025.

As assets under management keep growing, competition for talent among multi-strategy funds has intensified, and demand for investment professionals has also risen. Jason Kennedy, who helps hedge funds recruit, said workers early in their careers may not fully realize the long-term impact of these clauses. Analysts who want to move jobs may be less attractive to recruiters if their noncompete periods are long. Kennedy said a two-year lockup could effectively ruin their careers.